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Update 3:00pm EST. Looks like one more leg lower on VXX should take it to the final print.
Update 1:26pm EST. A retrace target at ES 2938 zone is printing currently. VXX (volatility derivative) is looking to print lower targets in the low 30's. Intra-day put/call ratio is moving lower (complacency).
Update 9:52am EST. A top flag signal just initiated.
Re-aligned W, X, Y fib markers due to vector interpretation adjustments. The pre-open hours hit targets. We need to see if the cash market needs to hit the same price levels. It's possible that the market needs to spend time in a range while the breadth numbers turn negative enough to create a stronger downward acceleration. Also the put/call ratio could stand to get pushed down a little lower but neither are required to happen.
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